Fred Alger Management LLC Sells 31,233 Shares of Kura Sushi USA, Inc. $KRUS

Key Points

• Fred Alger Management LLC reduced its holdings in Kura Sushi USA, Inc. by 8.2%, selling 31,233 shares in the first quarter, leaving them with 351,948 shares valued at approximately $18 million.
• Despite recent sales, several large investors increased their stakes in Kura Sushi USA, with Ameriprise Financial raising its holdings by 22.2%.
• Kura Sushi reported quarterly earnings per share of $0.05, surpassing analysts' expectations, and analysts maintain a consensus rating of "Moderate Buy" for the stock.

Fred Alger Management LLC decreased its holdings in shares of Kura Sushi USA, Inc. (NASDAQ:KRUS - Free Report) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,948 shares of the company's stock after selling 31,233 shares during the quarter. Fred Alger Management LLC owned about 2.91% of Kura Sushi USA worth $18,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Kura Sushi USA by 18.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,983 shares of the company's stock worth $204,000 after purchasing an additional 613 shares during the period. Granahan Investment Management LLC boosted its position in Kura Sushi USA by 9.3% during the first quarter. Granahan Investment Management LLC now owns 401,143 shares of the company's stock valued at $20,539,000 after buying an additional 34,114 shares during the period. Trexquant Investment LP purchased a new stake in Kura Sushi USA during the first quarter valued at about $573,000. Corebridge Financial Inc. boosted its position in Kura Sushi USA by 12.2% during the first quarter. Corebridge Financial Inc. now owns 3,304 shares of the company's stock valued at $169,000 after buying an additional 360 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Kura Sushi USA by 13.0% during the first quarter. MetLife Investment Management LLC now owns 3,842 shares of the company's stock worth $197,000 after purchasing an additional 441 shares during the period. Institutional investors own 65.49% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on KRUS. Benchmark reiterated a "buy" rating on shares of Kura Sushi USA in a report on Wednesday, July 9th. Barclays increased their target price on shares of Kura Sushi USA from $71.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Roth Capital reissued a "buy" rating and issued a $106.00 price target (up from $89.00) on shares of Kura Sushi USA in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of Kura Sushi USA from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Finally, Lake Street Capital increased their price target on shares of Kura Sushi USA from $62.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.78.

Kura Sushi USA Stock Up 4.4%

Shares of KRUS stock traded up $3.52 during trading hours on Thursday, hitting $83.02. 202,082 shares of the company's stock traded hands, compared to its average volume of 199,067. The stock's fifty day simple moving average is $82.13 and its two-hundred day simple moving average is $69.85. Kura Sushi USA, Inc. has a 12-month low of $40.03 and a 12-month high of $110.66. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -103.78 and a beta of 1.79.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $73.97 million during the quarter, compared to the consensus estimate of $71.82 million. Kura Sushi USA had a negative net margin of 3.48% and a negative return on equity of 0.49%. Kura Sushi USA has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

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